You are viewing a single comment's thread from:

RE: Some photos from Yesterday.

in #photography7 years ago (edited)

Any profits from selling cryptocurrencies are taxed as capital gains. For gains up to €30,000 per year the tax is 30 percent and of the amount exceeding that the percentage is 34. Losses are not deductable from capital gains. Yes, that sucks but that's the way it just is.

Sort:  

Omg really :o ?? I thought until 30,000€ is like normal tax rate and after that it’s 30% but I think cant we deduct the amount we investment right ? Or is that taxable too I wonder ahah #vero :P

What I meant is that if your capital gains are at most €30,000, you will pay 30% as capital gains tax. Of the portion of your capital gain exceeding that sum, you pay 34%.

Let me illustrate what this means with an example:

You buy one bitcoin and pay €10,000 for it. Later, you sell that one bitcoin for €50,000. Your capital gain was €40,000 the year you sold it. The amount of tax you pay is 0.3€30,000+0.34(€40,000-€30,000) = €9,000 + €3,400 = €12,400.

Of course you can deduct the sum you paid for the security you sold.

But if you sell bitcoins or other cryptocurrency at a loss, those losses cannot be deduced from any other capital gains at all. But if you sell, for example, stock at a loss, that loss can be deduced from your capital gains (including crypto gains).

By "normal tax rate" I assume you mean your income tax rate. Income from work and capital gains are taxed entirely differently.

Aaaa okay , now I got it what you meant , thanks for the detailed explanation and sorry for the trouble :) xx

No worries. I did write a bit unclearly. There were words missing from the original comment (now corrected).

Looks like it is the same for foreigners. If you're unsure I recommend you to contact someone who works for the Tax service just to be sure. You don't want to be in a situation where you haven't paid taxes :D

Yes sure and of course not, I dont mind paying taxes at all :D, but even though foreigners pays taxes but don't have a privilege like locals in the most places. In the end of the day may be 'Money matters' no matter what ;) :D :P

If you are liable to pay taxes in Finland due to your residency, you are also entitled to healthcare and welfare.

Yes , that’s true also. I don’t know if I could integrate or not with locals, if integration is going to be difficult, when I’m happy or sad there won’t be any person to share, then it’s not fun anymore to live in the country. I used to live in kokkola, it’s very difficult to make friends, I just left from there since I wasn’t happy.

Turku is different because Turku is immigration central compared to Kokkola.

Yes, I love Turku. I've really good finnish friends over here that I could rely on. I enjoy living in Turku its a fun city . may be you can check this article too

https://svenska.yle.fi/artikel/2016/01/21/hudfargen-har-stor-betydelse